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Here are the highlights of RBI's 3rd Monetary Policy review.
- Policy repo rate under the liquidity adjustment facility (LAF) unchanged at 7.25 per cent
- Cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liability (NDTL)
- Continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate and liquidity under 14-day term repos as well as longer term repos of up to 0.75 per cent of NDTL of the banking system through auctions
- Continue with daily variable rate repos and reverse repos to smooth liquidity.
- Economic recovery is still work in progress
- Hardening of inflation, excluding food and fuel, is most worrisome
- Retains growth target at 7.6 per cent for 2015-16
- RBI says banks have passed on an average 0.3% interest rate cut as against its 0.75% rate cut since January
- Govt’s capital infusion in PSBs to help loan growth and transmission of interest rate cuts as well as ease liquidity
Current RBI Rates (as on 4th August 2015)
S. No
|
Rates / Reserve Ratios
|
%
|
W.e.f
|
1
|
Bank Rate
|
8.25 %
|
2nd June 2015
|
2
|
Repo Rate
|
7.25 %
|
2nd June 2015
|
3
|
Reverse Repo Rate
|
6.25%
|
2nd June 2015
|
4
|
Cash Reserve Ratio (CRR)
|
4.00%
|
9th February 2013
|
5
|
Statutory Liquidity Ratio (SLR)
|
21.50%
|
3rd February 2015
|
6
|
Marginal Standing Facility (MSF)
|
8.25 %
|
2nd June 2015
|
Confused about these rates ? You can get detailed explanations of RBI Rates from here
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